Homeowners Insurance in Summerville, South Carolina (2024)

People are moving into the city in droves, with its population booming to nearly 60,000. One of the reasons for the influx is the more affordable housing prices, which are a tremendous perk for homeowners looking for the best of South Carolina.

Since the town sits so close to the coast, which is prone to hurricanes, homeowners insurance in Summerville, South Carolina is much higher than the state’s average — although it’s a bit cheaper than what Charleston residents will pay.

The average cost of homeowners insurance in Summerville is about $2,901 for a $200,000 house and $4,693 for a $350,000 house. These numbers are based on the premiums submitted to the South Carolina Department of Insurance by each of the top insurers in the town.

Every year, insurers that write more than $1 million in premiums are required to submit sample rates to the SC DOI. We compiled all those numbers into a huge spreadsheet, dissected them, averaged them out and then compiled a presentation for you.

By doing so, we’re helping bring a transparent perspective as to what you can expect to pay. Because we’re all about helping you find affordable and adequate homeowners insurance in South Carolina. Let’s take a look at the average premiums.

The rates in this article are sourced from the South Carolina Department of Insurance. The top 25 insurer groups by national premium volume were required to submit their annual rates, while other companies opted to do so voluntarily. The sample rates are for a homeowner with no insurance claims in the past five years and an average credit score.

As you can see from the numbers breakdown above, the most affordable homeowners insurance policies for a $200,000 house come from Travelers, Universal Property & Casualty Insurance Company (UPCIC) and State Farm.

We partner with Travelers, UPCIC and many of the top insurance companies in Summerville, South Carolina. So we can get you a quote from them in minutes. Partnering with the big (and smaller) names in the insurance game also allows us to compare rates and policies instantly, which means you’ll get the best policy at the best rate.

The premiums outlined in this article are averages, so you could potentially pay less or more, depending on a variety of factors. Some of the most important factors to consider are the age of your home and your home’s construction type.

The older a home, the more susceptible it becomes to damage from a severe-weather storm like a hurricane or tornado. Your home’s construction type, frame or masonry, also plays a big role in the average cost of premiums.

Frame houses are crafted from wood, while masonry houses are crafted from either concrete or brick. As you can probably imagine, masonry homes typically hold up better to natural disasters than their frame counterparts. Let’s take a deep dive into the numbers.

The average premium of $4,693 per year for a $350,000 house is just that: an average. When we break down the numbers even further, we see that homeowners in the sweet spots can pay significantly less.

Getting a policy from Travelers, UPCIC and State Farm means you’ll likely pay less than the state’s average, especially when you consider these averages were calculated utilizing homeowners with average credit. If you have great credit, you’re more likely to pay less than the city average.

While Foremost comes in with some of the highest premiums in the city, that doesn’t mean you’ll pay that much. We partner with Foremost, and we’ve seen premiums for this area at a much lower rate for homeowners who haven’t filed a home insurance claim, have great credit and are cognizant about their coverage amounts. Let’s take a deeper dive into the numbers.

Home insurance in Summerville, South Carolina covers much more than just your house. It’s also responsible for protecting your personal belongings, property and wallet from a multitude of different perils.

The most commonly covered perils are things like wind damage, water damage, house fires and vandalism or theft. But the perils your policy covers you from depend entirely on the type of homeowners insurance policy you have.

An HO-1 is the most basic homeowners policy, which covers homeowners from 10 perils. An HO-3 is the most common policy and it covers homeowners from 16 perils. But the list goes on from there, ending with an HO-5, which is widely considered to be the most extensive policy.

It’s important that your home’s dwelling coverage matches, at the very least, your home’s value. So houses worth $350,000 should have at least $350,000 worth of coverage. However, since housing prices increase throughout the year, it’s recommended to insure your home for 3% over the value.

Standard policies usually come equipped with other structures coverage that’s 10% of your dwelling coverage. That means homeowners with a $350,000 house may have up to $35,000 in coverage per claim filed.

Liability coverage typically comes standard at $100,000 or $250,000 per claim. You get to choose your coverage amounts, usually up to $500,000 or $1 million. High-net-worth individuals are encouraged to purchase supplementary umbrella coverage to extend their maximums beyond the $500,000 or $1 million mark.

Many factors are at play when calculating the average cost of homeowners insurance in Summerville, South Carolina. However, the most common factors that go into rate calculations are the following:

Flood damage isn’t covered by homeowners insurance, so you’ll need a separate flood insurance policy to protect your home, belongings and finances from the devastating effects of flooding.

Since Summerville is in the lowland South Carolina country teeming with water, including the Ashley River and Dorchester Creek, most of the city sits in an A-designated flood zone. That means nearly every home in Summerville is expected to experience at least one flooding event in the life of a 30-year mortgage.

With the average flood claim resulting in $25,000 worth of losses, it’s extremely wise to invest in flood insurance. Plus, it costs a fraction of the price of homeowners insurance and may only cost a few hundred dollars per year.

Getting a home insurance quote in Summerville, South Carolina is quick and easy when you use Clovered’s online quoting tool. All you need to do is answer a few questions about your house and living situation. Then our proprietary tool will compare policies and rates and pick the best one for you so you can go back to the funner things in life.

We’re always here to help. If you’d rather speak to a licensed agent on the phone, just call 833-255-4117 Monday through Friday from 8:30 a.m. to 6 p.m. Or you can email us anytime at [email protected].